Aubrey Capital Management Ltd Decreases Position in Broadcom Inc. $AVGO

Aubrey Capital Management Ltd trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,500 shares of the semiconductor manufacturer’s stock after selling 2,100 shares during the quarter. Broadcom accounts for about 1.8% of Aubrey Capital Management Ltd’s portfolio, making the stock its 15th largest position. Aubrey Capital Management Ltd’s holdings in Broadcom were worth $5,772,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC purchased a new position in shares of Broadcom in the 2nd quarter valued at approximately $27,000. Teachers Insurance & Annuity Association of America acquired a new stake in Broadcom during the 2nd quarter valued at approximately $28,000. LGT Financial Advisors LLC purchased a new stake in shares of Broadcom in the 2nd quarter valued at $31,000. New England Capital Financial Advisors LLC purchased a new stake in shares of Broadcom in the 2nd quarter valued at $31,000. Finally, JCIC Asset Management Inc. acquired a new stake in shares of Broadcom in the third quarter worth $31,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Up 2.4%

AVGO stock opened at $332.79 on Wednesday. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The business’s 50-day moving average is $356.69 and its 200 day moving average is $336.92. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The stock has a market cap of $1.58 trillion, a price-to-earnings ratio of 69.91, a PEG ratio of 1.08 and a beta of 1.21.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.08. The business had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The business’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 earnings per share. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were paid a dividend of $0.65 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom’s dividend payout ratio is presently 54.62%.

Analyst Ratings Changes

AVGO has been the subject of a number of research reports. The Goldman Sachs Group restated a “buy” rating and set a $450.00 target price on shares of Broadcom in a research report on Monday, January 5th. Susquehanna reissued a “positive” rating and issued a $450.00 price objective (up previously from $400.00) on shares of Broadcom in a report on Thursday, December 4th. Bank of America raised their target price on Broadcom from $460.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Barclays reiterated an “overweight” rating and set a $500.00 price target (up from $450.00) on shares of Broadcom in a research report on Friday, December 12th. Finally, Raymond James Financial set a $420.00 price objective on Broadcom and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $438.61.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 70,000 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $347.30, for a total transaction of $24,311,000.00. Following the transaction, the chief executive officer directly owned 132,836 shares in the company, valued at approximately $46,133,942.80. The trade was a 34.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Harry L. You acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average cost of $325.13 per share, with a total value of $325,130.00. Following the purchase, the director owned 36,602 shares in the company, valued at $11,900,408.26. This represents a 2.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 779,901 shares of company stock valued at $284,069,237. 2.00% of the stock is owned by company insiders.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.